以太坊與特隆：USDT至高無上的戰鬥及其含義

以太坊在機構收養和defi的驅動下，從特隆那里奪回了USDT寶座。但是，這場拔河對穩定幣和加密貨幣的未來意味著什麼？

Ethereum vs. Tron: The Battle for USDT Supremacy and What It Means

以太坊與特隆：USDT至高無上的戰鬥及其含義

The landscape of 'Ethereum, USDT supply, Tron' is in constant motion. Ethereum has once again snatched the crown from Tron as the leading blockchain for Tether (USDT) deployment. Let's dive into what's driving this shift and what it signifies for the broader crypto ecosystem.

“以太坊，USDT供應，Tron”的景觀一直在運動。以太坊再次從特隆（Tron）搶奪了王冠，成為繫繩（USDT）部署的領先區塊鏈。讓我們深入了解驅動這一轉變的原因及其對更廣泛的加密生態系統的意義。

The Great USDT Flip-Flop

偉大的USDT觸發器

Since May 2025, the USDT supply on Ethereum has surged by nearly $17 billion, reaching approximately $77 billion. This impressive growth marks a significant comeback for Ethereum, which briefly ceded its top spot to Tron earlier in the year. Tron's current USDT supply stands at $76.23 billion, according to DeFiLlama, showcasing the neck-and-neck competition between these two blockchain giants.

自2025年5月以來，以太坊的USDT供應量增長了近170億美元，達到了約770億美元。這種令人印象深刻的增長標誌著以太坊的重大復出，這在今年早些時候將其最高點歸於Tron。根據Defillama的說法，Tron目前的USDT供應量為762.3億美元，展示了這兩個區塊鏈巨頭之間的脖子和頸部競爭。

Why the Shift? Institutional Adoption and DeFi

為什麼要轉變？機構採用和挑戰

While retail users have historically favored Tron for its lower transaction fees, Ethereum's resurgence is largely attributed to institutional adoption. Major players like PayPal, with its PYUSD stablecoin, have integrated with Ethereum, further solidifying its position as a preferred network for larger transactions and DeFi activities. Ethereum's robust liquidity and expansive DeFi ecosystem make it an attractive choice for institutions seeking a reliable and scalable platform.

儘管零售用戶歷史上一直贊成Tron的較低交易費用，但以太坊的複蘇主要歸因於機構採用。 PayPal等主要參與者及其Pyusd Stablecoin已與以太坊融為一體，進一步鞏固了其作為大型交易和Defi活動的首選網絡的地位。以太坊的穩健流動性和廣泛的偏見生態系統使其成為尋求可靠且可擴展平台的機構的誘人選擇。

Tron's Continued Relevance: The King of Transactions

特隆的持續相關性：交易之王

Despite Ethereum's regained dominance in USDT supply, Tron continues to lead in daily transaction counts. This highlights Tron's ongoing popularity among smaller traders who prioritize cost efficiency. The network's ability to process a high volume of transactions at a lower cost makes it a go-to option for everyday crypto users.

儘管以太坊在USDT供應中恢復了優勢，但Tron仍在日常交易中繼續領先。這突出了特隆在優先考慮成本效率的小型交易者中的持續流行。該網絡以較低的成本處理大量交易的能力使其成為日常加密用戶的首選。

The Bigger Picture: Stablecoins and the Future of Finance

更大的前景：穩定幣和金融的未來

Tether's USDT remains the undisputed king of stablecoins, boasting a market capitalization of $174 billion. Circle's USDC follows in second place with $74 billion. The stablecoin market is also seeing new regulatory changes, pushing issuers to become more compliant with U.S. regulations. This is leading to more transparency and trust, attracting even more adoption of stablecoins for payments and financial services.

Tether的USDT仍然是無可爭議的Stablecoins國王，擁有1740億美元的市值。 Circle的USDC以740億美元的價格排名第二。 Stablecoin市場還看到了新的監管變化，使發行人更加符合美國法規。這導致了更多的透明度和信任，從而吸引了更多的穩定幣來付款和金融服務。

My Take: Ethereum's Institutional Edge

我的看法：以太坊的製度優勢

While both Ethereum and Tron play vital roles in the crypto ecosystem, Ethereum's ability to attract institutional flows gives it a distinct advantage. The integration of stablecoins like PYUSD, along with the potential for staking features in Ether ETFs, positions Ethereum as a primary settlement layer for blockchain-based finance. As traditional finance increasingly embraces digital payment infrastructure, Ethereum is well-positioned to capitalize on this trend. The outflows from Ether ETFs shouldn't scare you. Instead, consider it a sale!

儘管以太坊和特隆都在加密生態系統中扮演著至關重要的角色，但以太坊吸引機構流動的能力使其具有明顯的優勢。諸如Pyusd之類的穩定蛋白的整合，以及在Ether ETF中的樁特徵的潛力，將以太坊定位為基於區塊鏈的融資的主要沉降層。隨著傳統的財務越來越涵蓋數字支付基礎設施，以太坊的資金充分利用了這一趨勢。以太ETF的流出不應該嚇到您。相反，將其視為銷售！

Looking Ahead

展望未來

The battle between Ethereum and Tron for USDT dominance is far from over. Both networks will continue to innovate and adapt to meet the evolving needs of the crypto market. One thing is clear: stablecoins are here to stay, and they will play an increasingly important role in the future of finance. So, buckle up and enjoy the ride! It's going to be a wild one!

以太坊和特隆之間爭奪USDT主導地位的戰鬥還遠遠沒有結束。這兩個網絡將繼續進行創新和適應以滿足加密市場不斷發展的需求。一件事很清楚：穩定幣將留在這裡，它們將在金融的未來中發揮越來越重要的作用。因此，搭扣並享受旅程！這將是一個瘋狂的人！